Replies to post #258791 on Digital Brand Media and Marketing Group Inc (DBMM)

[Stock_Barber]

Wow... the story flipped to echo MY FACTS awful quickly! Isn't it amazing what actual DD can accomplish?

So suddenly the company doesn't have $1M worth of intangible assets, but rather allegedly HAD only $661k... even though they only paid $225k for Digital Clarity!

Let that sink in... DBMM paid only $225k for Digital Clarity... DBMM's ONLY ASSET!

And Digital Clarity is a fraction of the size of the company when they bought it!

In the 3rd Quarter ended May 31, 2011, the Company had recorded an intangible asset of approximately $661,000 and amortization expense of $139,601 based on the tentative purchase price determinable at the time. In December 2011, the conversion factors resulting from the 12 month forward pricing were finalized and both parties had agreed to the revised purchase price and consideration resulting in a measurement period adjustment. Accordingly, pursuant to generally accepted accounting principles, it was necessary to retrospectively restate the May 31, 2011 quarterly figures filed on July 18, 2011. In accordance with ASC 805, the Company has retrospectively adjusted the May 31, 2011 figures and has disclosed in this filing the May 31, 2011 comparative financial information to reflect the new purchase price of $225,027